A Siddhartha Bank employee, Vivek Lamichhane, has gone missing after being accused of facilitating a loan by using forged documents and creating a fake landowner to mortgage someone else’s property. The bank has suspended him, while police have registered a case and placed him on the wanted list.

According to the investigation, the incident occurred while the actual landowner, Mohan Bahadur Shahi, was abroad. His land parcels with plot numbers 2444 and 2447 were allegedly presented under the name of a fake owner, Bhadr Bahadur Thapa, and used as collateral to obtain a loan.

The employee is accused of being involved in processing a loan worth around Rs 5 million based on fraudulent documents. The loan file was approved by Niraj Shrestha, head of Siddhartha Bank’s Gandaki Province office. Shrestha told police that he was unaware that the landowner details were fabricated.

Siddhartha Bank has previously taken disciplinary action against employees involved in financial misconduct. Recent incidents involving alleged misuse of customer funds have raised concerns over internal controls and compliance practices in banking institutions.

The case highlights the importance of stronger verification systems, due diligence, and internal monitoring mechanisms while approving loans against collateral assets.